It is common practice to install rotatable electronic and electromechanical components within housings. If these components require a rotational input from outside the housing they are usually either placed near the housing wall to ensure alignment with the external rotating means or large clearance holes are placed in the housing to allow for misalignment. In many applications it is desirable to locate the rotatable component at some distance away from the housing wall. In these cases a special component which has a shaft of sufficient length to pass through the housing wall such that the external operating means can be attached is generally required. These special components increase the product cost and may dictate the component location within the housing. In today's miniaturization of electronic components it is desirable to preassemble components on printed circuit boards which are then installed within the housings. Due to manufacturing tolerances a precise location of the rotatable component within the housing is not always cost effective. Therefore, some misalignment between the rotatable components and access openings provided in the housing are to be expected. These misalignments may cause a binding of the component shaft or the external rotating means. If there is a binding of the shaft or the external rotating means, the electronic component may not operate in a precise manner. Further, there is a possibility that the printed circuit board to which the component is attached may fail due to a combination of stress in its printed wiring due to the misalignment and vibration to which the device is subjected. It is therefore desirable to provide an inexpensive means to compensate for axial and angular misalignment between the rotatable component located within the housing and its external operating means.